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NY League, CUs Working to Block NY State Bill to Tax FCUs; Hood Says NCUA Can Pre-Empt

New York State Senator Thomas Morahan (R-38th) introduced a bill April 25 to impose the state corporate tax on federal credit unions in New York, but credit union figures have suggested that will never happen.

By Sarah Snell Cooke | Updated on May 15, 2007

LATHAM, N.Y. — New York State Senator Thomas Morahan (R-38th) introduced a bill April 25 to impose the state corporate tax on federal credit unions in New York, but credit union figures have suggested that will never happen.

When asked if this was something the New York State Credit Union League was expecting from the senator, Vice President of Governmental Affairs Amy Kramer said, “Frankly, no, it was not.” She explained that she has a good rapport with his staff and she had been in not long before the bill was introduced, but they gave her no indication of what was coming. She also noted that Morahan had visited credit unions in his district.

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